EKF signs billion kroner deal with Russian state bank

In the presence of Russian Prime Minister Vladimir Putin, EKF signed a financing agreement worth DKK 1.2 billion with the Russian state bank Vnesheconombank. The agreement secures the financing of a potential billion kroner deal for FLSmidth.

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​Without a financing solution FLSmidth would lose the opportunity to obtain an order for the supply of equipment to a Russian cement plant. With an export loan and an export credit guarantee worth DKK 1.2 billion from EKF the financing for the Russian buyer was successfully put in place in association with the Russian state bank Vnesheconombank and international HSBC.

The agreement was signed in the presence of the Russian Prime Minister Vladimir Putin, Chairman of the Supervisory Board of Vnesheconombank.

The financing agreement forms the basis for further negotiations between FLSmidth and the Russian buyer. A final agreement means contracts worth millions for FLSmidth and for a large number of Danish sub-suppliers.

”It’s very important for a country like Denmark to utilize the export opportunities available and Russia’s one of our important markets. We’re happy that we were able to contribute to putting the financing in place. The order will mean revenue as well as jobs, not only for FLSmidth, but also for a large number of Danish companies”, says EKF’s CEO Anette Eberhard.